AI/ML Innovations Inc. announced a non-brokered private placement offering of up to 16,500,000 units at an issue price of CAD 0.05 per Unit for gross proceeds of up to CAD 825,000 on June 21, 2024. Each Unit is comprised of one Common Share and one Warrant which will be exercisable into one Common Share. Each Warrant will have a term of three years and will entitle the holder to purchase one Warrant Share at a price of CAD 0.10 per share following the closing date.

The Common Shares and Warrants comprising the Units will be subject to a four-month and one day hold period in accordance with the policies of the CSE and applicable securities legislation. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the Canadian Securities Exchange.